Billionaire phone tycoon John Caudwell was given permission last year to demolish a multi-storey car park and a number of surrounding buildings in Mayfair.
He is going to create a new super-prime development where some flats are likely to cost more than £100 million each.
The Ascott, a 1920s Art Deco building made up of serviced apartments, closed on August 30 to make way for the ambitious project.
An auction house has been given the role of selling the contents of the apartments and scores of bargains will be on offer as they are sold without any reserve price.
A team of eight people from Pro Auction Ltd spent ten days cataloguing more than 2,000 items ahead of the three-day sale which starts on September 5.
Everything from kitchen sinks, curtains and beds to TVs will be sold with prospective buyers free to view the goods from today (Thurs).
Artwork, fridges, tables, chairs, fireguards, light fittings and tables are among the other items going under the hammer.
The auction will also feature the contents of a fitness centre, terrace and a garden along with dining facilities and commercial catering equipment.
All the lots are being offered without reserve, giving bargain hunters the chance to snap something up for next-to-nothing.
It is hoped the contents will sell for more than £100,000 when Pro Auction Ltd hold the auction.
Mark Flynn, director of Pro Auction, said: “Everything including the kitchen sinks at The Ascott are being sold.
“The furniture is very Art Deco, matching the building, and it all has to go. So it is an unreserved auction where it is down to the public to dictate what the items are worth.
“We will be selling everything from the curtains to the beds to the electrical goods.
“It is a great chance for the public to get their hands on a bargain and we are hoping to make more than £100,000 from the sale.”
The site in Mayfair will make way for what is expected to be London’s most luxurious residential development.
It will have more than 200,000 sq/ft of residential space – potentially valuing the site at more than £1 billion.
There will be five townhouses, three penthouses, a mews home and 21 luxury apartments.
Each penthouse will have its own lift, gym and swimming pool and the largest, which will be 13,401 sq/ft, could be worth more than £100 million.
The five proposed townhouses will have their own pool and gym. On the lower second floor of the development will be the ‘communal amenity facilities’.
This includes a 15-metre swimming pool, a business centre for holding meetings, a gym, spa and cinema and games room.
